BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Parties to a contract may transfer their rights and obligations to other people through an assignment or delegation. An assignment involves the transfer of contract rights. A delegation involves the appointment of another to perform one’s duties under a contract.

Detailed explanation-2: -Assignment is a legal term whereby an individual, the “assignor, ” transfers rights, property, or other benefits to another known as the “assignee.” This concept is used in both contract and property law. The term can refer to either the act of transfer or the rights/property/benefits being transferred.

Detailed explanation-3: -Delegation. the transfer of contractual duties to a third party is known as a delegation (occurs after the original contract was made). The party to whom the obligation is owed is the obligee, the person obligated to perform the duty is the obligor. The party making the delegation is the delegator.

Detailed explanation-4: -Assignment is the transfer by an obligee (assignor) of some or all of its rights to receive performance under the contract typically, but not always, to a non-party (assignee).

Detailed explanation-5: -An assignor is an original party to the contract. An assignor can be an individual, a group, or a business. The assignor is the party that transfers its contractual rights to another party. In a contract assignment, this means that the assignor transfers both the contractual obligations and the contractual benefits.